Open Text Corporation (NASDAQ:OTEX) Declares Quarterly Dividend of $0.28

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Friday, June 5th will be given a dividend of 0.275 per share by the software maker on Friday, June 19th. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, June 5th.

Open Text has decreased its dividend by an average of 0.1%annually over the last three years. Open Text has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Open Text to earn $4.32 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 25.5%.

Open Text Trading Down 2.3%

NASDAQ OTEX opened at $24.79 on Wednesday. The business has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $27.04. Open Text has a one year low of $20.00 and a one year high of $39.90. The stock has a market capitalization of $6.02 billion, a P/E ratio of 12.09 and a beta of 1.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.94.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. Open Text had a net margin of 9.91% and a return on equity of 24.77%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. Research analysts expect that Open Text will post 4.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OTEX shares. National Bank Financial reduced their price objective on Open Text from $45.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Scotiabank reduced their price target on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Friday, May 8th. Wall Street Zen raised shares of Open Text from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Barclays lifted their price target on shares of Open Text from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada reduced their price objective on shares of Open Text from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.67.

Open Text Company Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.